Arista Networks (NYSE:ANET) Posts Quarterly Earnings Results, Beats Estimates By $0.46 EPS

Arista Networks (NYSE:ANET) issued its quarterly earnings data on Thursday. The technology company reported $2.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.83 by $0.46, RTT News reports. The business had revenue of $552.55 million during the quarter, compared to the consensus estimate of $550.63 million. Arista Networks had a return on equity of 28.94% and a net margin of 32.68%. During the same period in the previous year, the firm posted $2.25 earnings per share. Arista Networks updated its Q1 2020
After-Hours guidance to EPS.

Shares of NYSE ANET traded down $15.12 during trading on Friday, hitting $222.50. The company had a trading volume of 76,362 shares, compared to its average volume of 716,957. The company has a market cap of $17.76 billion, a P/E ratio of 23.43, a PEG ratio of 1.96 and a beta of 1.52. Arista Networks has a 52 week low of $173.31 and a 52 week high of $331.27. The business’s 50-day moving average is $219.42 and its 200 day moving average is $221.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.47 and a current ratio of 5.91.

Several equities analysts have recently issued reports on ANET shares. Citigroup upgraded Arista Networks to a “buy” rating and reduced their price objective for the stock from $315.00 to $225.00 in a research report on Friday, November 1st. Morgan Stanley boosted their price objective on Arista Networks from $195.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Friday. Wells Fargo & Co restated a “market perform” rating and issued a $205.00 target price (down from $270.00) on shares of Arista Networks in a research report on Friday, November 1st. Needham & Company LLC restated a “hold” rating on shares of Arista Networks in a research report on Tuesday. Finally, Bank of America downgraded Arista Networks from a “buy” rating to a “neutral” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and ten have assigned a buy rating to the stock. Arista Networks currently has an average rating of “Hold” and a consensus target price of $230.08.

In other Arista Networks news, Director Ann Mather sold 329 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $194.00, for a total transaction of $63,826.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Marc Taxay sold 5,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $192.51, for a total transaction of $962,550.00. Following the sale, the senior vice president now directly owns 11,365 shares in the company, valued at $2,187,876.15. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,648 shares of company stock worth $10,645,433. Company insiders own 23.83% of the company’s stock.

About Arista Networks

Arista Networks, Inc develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company's cloud networking solutions consist of extensible operating systems, a set of network applications, as well as gigabit Ethernet switching and routing platforms, including universal leaf, spline, and universal spine products.

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Earnings History for Arista Networks (NYSE:ANET)

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